Emerson Electric Q2 profit meets estimates, raises 2017 outlook again

New Delhi: Emerson Electric Co on Tuesday reported quarterly profit that met Wall Street estimates, helped by an increase in sales in its commercial and residential solutions business and raised its 2017 earnings forecast for the second time.

The company said it now expects earnings per share from continuing operations of $2.55-$2.65 in 2017, up from its earlier forecast of $2.47-$2.62.

Analysts on average were expecting 2017 earnings of $2.59 per share, according to Thomson Reuters I/B/E/S.

The St. Louis, Missouri-based company also said it now expects full-year net sales to be about flat, compared with its earlier forecast of flat to down 2 percent.

The factory automation equipment maker's earnings from continuing operations rose to $384 million, or 58 cents per share, in the second quarter ended March 31 from $375 million, or 57 cents per share, a year earlier.

Net sales were little changed at $3.57 billion.

Analysts on average were expecting second-quarter earnings of 58 cents per share, on sales of $3.50 billion.